Technology

QED Connect to snap up Kaleidoscope Venture Capital

MUMBAI: QED Connect, Inc. has entered into an agreement to acquire 75 per cent of Kaleidoscope Venture Capital, Inc.


Kaleidoscope‘s satellite communication division, Kaleidoscope-TV, delivers DirecTV programming through its proprietary roof top central dish system.


As a result of the Kaleidoscope purchase agreement, QED Connect will acquire 75 per cent of Kaleidoscope‘s common stock and will receive an additional 15 per cent upon completion of funding of $750,000, with the option to be extended for up to $2 million. The selling shareholders of Kaleidoscope have the right to re-purchase up to 25 per cent of Kaleidoscope.


Kaleidoscope-TV technology distributes multiple DirecTV satellite signals to customers on a single wire when coupled with DirecTV-developed technology. The central dish system allows for a single compact dish antenna assembly to serve all the units in an entire building complex. This eliminates the need for each apartment/condominium in the building to have individual DirecTV satellites dishes each requiring a direct line of sight to the signal, and for additional coaxial cables running throughout the building.
 
The central dish system offers the least costly solution then
currently available to bring direct broadcast satellite to multi-family residential properties or as multi-dwelling units (MDUs). The technology is also optimised to provide state-of-the-art high-speed Internet and Voice Over Internet Protocol (VOIP) telephone products to DirecTV service operators and customers.


Kaleidoscope executive vice president of sales and marketing Denny Andrews will head up Kaleidoscope‘s new division, ‘Kaleidoscope Digital Media Systems‘, which will focus on customer integration of services and social media marketing deployment.


MDUs represent approximately 20 per cent of the 110 million households in the US which have one or more televisions. While direct broadcast satellite services represent 29 per cent of the overall television delivery technologies in the United States, satellite television delivery to MDU households represents only .029 per cent of overall media delivery.


Kaleidoscope-TV is initially focused on a broad array of apartments and condominiums throughout the Seattle and San Francisco markets.


Kaleidoscope president and CEO Eric Luttio said, "Joining the QED Connect organisation will give us greater resources to implement our roll out of the central dish rooftop technology and Kaleidoscope Digital Media Systems. As a result, we believe that we can achieve sales of $35 million over the next three years."


QED Connect president and CEO Tom Makmann added, "The acquisition of Kaleidoscope validates how we are focused on executing our plan of seeking acquisitions and joint ventures with promising companies. Kaleidoscope-TV‘s technology offers a cost-effective solution to cable and we are expecting Kaleidoscope to contribute to QED Connect‘s income in 2012. We will continue to look for additional companies to add to our portfolio over the next few months."
 
 
 
 

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